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What does the PT degree of [American University] mean?
The full name of PT is professional training. (Vocational training) means to provide more professional training for people with some relevant backgrounds. To put it bluntly, it is to consolidate your background and make your resume look better. Projects of prestigious schools like this can sometimes help them find jobs.

Some programs will award master's degrees, while others will not. Be sure to read the degree awarded carefully before applying.

It seems that this kind of project is only available in the United States, and domestic projects of this nature are not well understood. There is a difference between thinking that it is equal to a graduate student. For more information, please refer to the description of the school, or ask the students who graduated from this program before (if any) to see what it is like.